'Icesave... angry, frustrated and upset...' blog discussion

billinge

My wife and I have about £12k in Icesave, but thankfully other savings elsewhere.
I'm glad the UK government have agreed to 'bail us out' but hope Iceland will not getaway with it. I believe it is European law that they fulfil their obligations under the FCS.
My concern is that the banks have the ideal opportunity to go bump, let the UK government bail them out, with all the directors getting massive payouts under termination contracts, then when things settle down, set-up in banking again, and the whole mess will start again.
In addition to that, the chances are the banks will scrap free banking, so it will be us who have to pay for the mess they created. These directors, investors etc must be brought to book.
Is it not the banks themselves who do most of the investing on the FTSE? And the banks themselves lack confidence so need investing in by the government. All sounds a bit suspect to me.

lilmismayhem

On Sky News they are reporting ING Direct UK are acquiring £2.5bn of Kaupthing Edge deposits.

zzyorkshirepuddingzz

Martin's latest information is to print out a statement on the Icesave site to be able to confirm how much balance you have.
However, I tried to transfer most of my ISA savings out on 6th October and my balance shows as 0.16p although in actual fact there is over £12000 as the money is probably never going to reach my account.
I did print off the transaction but it says that the balance has been processed although in theory it hasn't!
How will I be able to prove that I have never received this money and that I want to claim the whole amount of over 12 grand back?

codger

lilmismayhem wrote: »

On Sky News they are reporting ING Direct UK are acquiring £2.5bn of Kaupthing Edge deposits.

Thanks for that -- it's getting well nigh impossible to keep up with developmenbts.

Am off to watch Sky News now.

jamielovell

Well, after a sleepless night, it looks like good news, as long as a politician keeps their promise!! A treasury spokesman said they will "guarantee that no depositor will lose any money as a result of the closure of Icesave" - from BBC News. Can't believe the Iceland govt can just default on their promise to guarantee the first 16,000 pounds. Note to self - never invest in an overseas bank again - can't take the stress!!

lilmismayhem

No worries codger glad to be of service. Am lucky to be working from home on this monumental day so will post updates as and when.

BBC news are reporting the figure to be £3bn and it is only UK savers who have deposited with them so good news for those who chose Kaupthing over Icesave.

Nothing on the ING website about it yet

mariecc_2

I have recently transfered my hubbys and my daughters isa to icesave. I was in the process of doing mine but the cheque got returned to halifax because of an error on the form.:o

My question is what is a passport that every is going on about?

I am gutted just having got my daughter to do hers.:eek:

ronsil_2

Given that my money with Icesave is likely to come back, eventually, I wonder what, if anything, will happen re interest lost over a possible 6 month waiting period

MM46

Thanks to Martin for up to date info, particularly yesterday when it was panic time.
I had already printed off statements showing our joint balances. The problem is, like many others apparently, I transferred £12000 on Saturday, which has been reduced from our Icesave balance on 6th October, but it has not yet appeared in our bank account. Will the compensation scheme accept statements showing the DD to our bank, plus the statement from our bank showing that the DD did not arrive, as proof that the Icesave balance needs to be increased by that amount?
Update:
Another poster said their money had been transferred back to their Icesave account. I have just checked and ours has been put back in as "correction item posted 6/10808".
At least we have proof of the full amount saved, but are their actions legal in stopping transfers of our money like this ?

lilmismayhem

skynews.com/business

They have just announced on skynews that at 12.30pm they will hold an online live debate where icesave customers can ask questions of experts about their savings.

Have never used this facility so can't offer advice on how it works or how to submit questions, but will keep an eye on it and post any jewels that come out of it

** Just found it on their website - it's under "web chat: how safe is our money?" and starts at 12.30pm**